Financing for sustainable development

Mobilising Public Finance: An OECD side event in the margins of the Third International Conference on Financing for Development, 13 July 2015

1.15-2.45 pm, 13 July 2015 High-Level Panel Discussion on Strengthening International Co-operation to Mobilise and Measure Public Finance for Sustainable DevelopmentAddis Ababa, Ethiopia

> Read the meeting summary

This side event explored the relevance of the proposed total official support for sustainable development (TOSSD) framework for tracking international flows that complement ODA, clarifying possible avenues for future international collaboration.

The framework for financing the Sustainable Development Goals will need to respond to the vast – and ongoing – transformation in the international development landscape. It should comprise a cohesive set of tools to facilitate a holistic approach to scaling up a global partnership for development.

The mobilisation of a much larger breadth of international financial resources will be needed to match the ambitious aims of the post-2015 agenda. Joint public-private solutions can help mitigate risks through instruments such as guarantees, blended finance or public-private partnerships. Recognising official efforts to catalyse and leverage additional capital can also create incentives for increased investment. In all of these efforts, there is an urgent need to foster transparency and accountability, and to ensure that all resources are aligned with developing countries’ priorities.

Moderator:

Mr. Henry Bonsu, a British-Ghanaian broadcaster, media consultant, and international conference host specialised in business, development and sustainability.

provide the necessary means to address the urgent need for mobilisation of significant resources to implement the Sustainable Development Goals and

foster political will at a global level in support of these efforts.

The event addressed the following questions:

Given the complexity of the international development finance architecture, how can the existing statistical measurement framework be adapted to ensure it provides incentives for mobilising all available development resources and successfully channels them to achieve the SDGs?

To what extent would the measurement of a wider array of financial instruments available to developing countries foster greater transparency and effectively complement ODA by raising international accountability for resources in support of all three dimensions of the sustainable development agenda: social, economic and environmental?

How can the financing for development agenda build trust and capitalise on the respective strengths of all existing mechanisms and actors for greater information sharing and facilitation of a deeper understanding of the changing development finance landscape, particularly for developing countries?